Q1 2024 EPS Estimates for AT&T Inc. Reduced by Zacks Research (NYSE:T)

AT&T Inc. (NYSE:T) – Equities research analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of AT&T in a research report issued to clients and investors on Wednesday, March 27th. Zacks Research analyst R. Department now anticipates that the technology company will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.56. The consensus estimate for AT&T’s current full-year earnings is $2.21 per share. Zacks Research also issued estimates for AT&T’s Q3 2024 earnings at $0.58 EPS, FY2024 earnings at $2.22 EPS, Q2 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $2.29 EPS and FY2026 earnings at $2.42 EPS.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share.

Several other analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $21.61.

AT&T Price Performance

AT&T stock opened at $17.58 on Thursday. AT&T has a 12 month low of $13.43 and a 12 month high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The business has a 50 day simple moving average of $17.08 and a 200-day simple moving average of $16.26. The stock has a market capitalization of $125.71 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of T. Pineridge Advisors LLC purchased a new position in AT&T in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter valued at about $25,000. Carmel Capital Partners LLC grew its stake in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. FWL Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter worth about $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.